A new "living pension" is needed to help workers enjoy a decent standard of living in retirement, according to a think-tank.
It would help firms ensure that their staff are saving adequately for their later years, the Resolution Foundation said. The Building A Living Pension report, supported by Aviva, said the living wage campaign has already been successful in encouraging firms to pay their staff wages that deliver adequate living standards.
But workers who only pay in the minimum amounts required under automatic enrolment into their workplace pensions may fall short of saving enough for a comfortable retirement.
Phil Brown, director of policy at The People's Pension, said: "Setting out the minimum income needed for a decent retirement
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